It's worth noting that EVE is an idealized capitalist society, with all the realistic drawbacks that comes with that. I agree that the back story is essentially fantasy, but what you miss is that this doesn't mean you're a classic solo adventurer for whom the world bows down as you pass. (This isn't a jab; in most MMOs, this
is the case.)
EVE is principally about market simulation, and pretty much everything you do is either a market externality (e.g., going to war) or a market action (e.g., mining). Contrast with WoW, which is an adventure simulation (if you're not on an adventure, WoW failed), EVE doesn't leave out the boring parts because they're critical to actually simulating the economics.
Which means arbitrage. Which means location matters. Playing the game is about figuring out what kind of entrepreneurship you want to engage in, and then optimizing it to maximize profits.
Yeah, this is non-obvious, and EVE is notoriously bad at teaching newbies. They've been trying to improve it, but it still comes down to finding mentors. Your criticisms are thus on the mark without actually criticizing the game itself; you just never got to play.